South East Economy: How we’ll rebuild region, make it worth 200 Billion Dollars by 2035 – SEDC MD, Mark Okoye
Kenneth Udeh from Abuja
Through the expedition of a determined and transparent partnership with state governments, private sector and development partners Management of the South East Development Commission, SEDC says that the South-East Economy will be worth 200 Billion Dollars by 2035.
The commission set the target through its Managing Director, Mark Okoye during its inauguration ceremony held in Abuja on Tuesday.
By achieving such, Mark in his address stated that the South-East region will be contributing its quota to President Tinubu’s Six Trillion GDP target.
Quoting the statistic of the World Bank which states that Nigeria needs to invest $100-$150 billion annually over the next 30 years to bridge its infrastructure deficit, Mark Okoye unveiled strategies on how the South-East will achieve its own contribution of 10 Billion Dollars.
Furthermore Mark disclosed that the commission will remain focused on overseeing the reconstruction and rehabilitation of critical infrastructure damaged by the Nigeria Civil War, and to tackle the broader developmental challenges facing the region.
To further achieve its objectives, Mark Okoye emphasised that the commission under his leadership will build on the development blueprint plans of former Premier of Eastern Nigeria, Micheal Okpara.
He also revealed plans to promptly tackle prevailing problems bedeviling the region which include; the over 2,500 active erosion sites displacing thousands of people; persistent unemployment and unfavourable investment climate; security concerns that affect business confidence and to facilitate an ease-of-doing-business which the MD said requires significant improvement.
Okoye appreciated President Tinubu for the trust and confidence reposed on himself and his team.
He assured not to fail;
“When Mr. President presented the Renewed Hope Agenda and was sworn into office in 2023, he made a commitment to showcase visionary leadership one rooted in inclusivity, progressive governance, and strong institutions.
“He promised a new style of public service that fosters a society built on shared prosperity, tolerance, compassion, and an unwavering commitment to treating each citizen with equal respect and due regard.
According to Mark the assent of the SEDC Act, 2024, and the constitution of its leadership President Tinubu has reaffirmed his commitment to national unity and regional development.
He said;
“The weight of expectations on this Commission is enormous given the 54 year wait. Since our nomination, I have been deeply moved by the outpour of support, ideas, and insights from across the region and beyond.
“Yet, despite these obstacles, we remain a resilient and enterprising people.
“Today, with a combined GDP of approximately $40 billion and a population of 21.9 million, this goal may seem ambitious. However, with: Support from Mr. President through the SEDC; Collaboration with the Governors in the region and Private sector investments and strategic partnerships.
As part of its take-off strategy Mark noted that the commission will earnestly engage with State Governments to align its interventions with their development priorities and identify synergies with the Renewed Hope Agenda.
Identifying the private sector as a critical partner Mark said that the management will secure their ( Private sector ) buy-in and extract firm investment and job creation commitments based on our expected interventions.
He noted further;
“Academia & Research Institutions to ensure evidence based policy decisions and a strong skills development program for new entrants into the job market.
“Traditional Rulers & Religious Leaders to foster grassroots engagement and social cohesion; Civil Society Organizations – to promote accountability, inclusivity, and people-driven solutions; We will also learn from history.
“Master Planning & Infrastructure Development Developing new masterplans to guide the execution of major infrastructure projects.
Plans to boost Agriculture, Industrialisation, Technology and Human Capital Development were explained by the Managing Director.
He said; Enhancing value chains, boosting food security and revamping existing industrial clusters & supporting current industrial park projects being developed by State Governments.
“We will be Empowering our youth with digital skills and fostering tech driven entrepreneurship and Supporting Tertiary education and healthcare institutions and vocational training.
Harping on honesty Transparency and Accountability Mark pledged 5hat he and his team will not pay lip service to the development of the South-East.
“In the coming months, we will embark on several projects, programs, and initiatives designed to accelerate the development of our region. Our website, launching soon, will be an interactive platform for your feedback and engagement, he said.
Appeals were also made to friends and well-wishers to tone down the celebrations, receptions, and congratulatory messages in order not to distract the commission from remaining steadfast and focused in its mission.
He said ; “The expectations are enormous, and we must hit the ground running. Therefore, I respectfully ask that we tone down on the social receptions, parties, or newspaper adverts organized in our honor.
“While I appreciate the thought, I ask that you channel your support into ideas, best wishes, and prayers for the wisdom and stamina to execute this task successfully.
“These are exciting times. The future of our region is in our hands and we have been given a unique opportunity to transform the South East into an economic powerhouse.
